1、 Price trend

According to the Commodity Market Analysis System of Shengyi Society, as of November 27th, the reference average price of domestic urea market is 1652 yuan/ton, which is 2.80% higher than the reference average price of 1607 yuan/ton on November 1st.
2、 Market analysis
supply and demand situation
The domestic urea market prices have fluctuated and risen this month. This month, the urea futures market has strengthened, and the spot market has followed the trend of the futures market. The dual positive effects of exports and a new round of label printing have increased market optimism. The daily production of urea remains high, and supply pressure still exists. In terms of demand, after the phosphorus composite conference, the demand for fertilizer winter storage began to advance, downstream raw material procurement demand increased, and the market trading atmosphere improved.
market situation
As of November 27th, the urea market prices in Shandong are around 1600-1650 yuan/ton, Hebei is around 1620-1660 yuan/ton, Henan is around 1610-1650 yuan/ton, and Liaoning is around 1680-1720 yuan/ton.
According to the weekly K-bar chart from September 1, 2024 to November 17, 2025, it can be seen that the domestic urea cycle is characterized by ups and downs. In November, domestic urea prices rose significantly, with the largest increase being 1.57% in the week of November 3rd.
3、 Future forecast
Business Society’s urea analyst believes that the urea market has experienced slight fluctuations in recent days. At present, downstream demand for replenishment is urgent, industrial and agricultural demand is stable, and market trading is still acceptable. The inventory of urea market is still at a high level, and the market mentality is cautious. It is expected that the domestic urea market will experience a narrow range of price consolidation and operation in the short term.